FRANCE: Starwood awaiting bids for California's Carneros
The sale of Taittinger is being held up as its owner awaits offers for the Champagne producer's Californian wine assets.
A spokesperson for Starwood Capital, the US real estate group that has put Taittinger on the block, said that, while bids for the Champagne assets had been received, the company was waiting on offers for Californian winery Carneros.
"Several of the offers are joint offers for the Champagne and wine activities. Bids for Carneros are due on 25 May and Starwood won't examine any of the offers before this," she told just-drinks today (22 May).
The spokesperson declined to comment on reports that India's UB Group had tabled a bid of almost GBP400m (US$750m) for Taittinger, the world's sixth-largest Champagne producer.
Earlier this month, UB had reportedly denied any interest in Taittinger. Officials in Bangalore could not be reached for comment as just-drinks went to press.
Around half a dozen suitors are understood to have been shortlisted in the race for Taittinger. The sale also includes wine assets in the Loire region of France.
Starwood bought Taittinger last July when it paid EUR2.9bn (US$3.7bn) for its parent Groupe Taittinger and an associated business, Société du Louvre.
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